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Union Budget 2015 News

30 Apr 2015

Jaitley drops PDMA; RBI to regulate govt bonds for now

Setting at rest the controversy with regard to regulation of government bonds for the time being, Finance Minister Arun Jaitley today dropped from the Finance Bill 2015 the proposal to set up a separate Public Debt Management Agency (PDMA), outside of the RBI's ambit.

30 Apr 2015

Government withdraws proposal to set up new public debt management agency

Jaitley added that the government is in consultation with RBI to prepare a detailed road-map for setting up a separate debt management agency.

Finance Ministry

15 Apr 2015

Transport allowance exemption doubled to Rs 1,600/month

The Finance Ministry has notified the increase in transport allowance to Rs 1,600 a month from Rs 800 as announced in the Budget.

inflation target

02 Mar 2015

India sets inflation target in monetary policy overhaul

India has formally adopted inflation targeting, a historic monetary policy overhaul that marks a victory for Reserve Bank of India Governor Raguram Rajan, as the government makes subduing chronically volatile prices a priority.

General Motors sales decline

02 Mar 2015

General Motors sales down 23% at 4,320 units in Feb

General Motors India today reported 22.95 percent decline in sales at 4,320 units in February as against 5,607 units in the same month last year.

02 Mar 2015

India's budget: Mood mixed at Moody's

The increase in service tax, however, is credit negative as it would increase the production cost for Indian corporates, the agency said.

02 Mar 2015

Bonds fall on govt's 2015-16 fiscal deficit target

The budget announced a fiscal deficit target of 3.9 percent of gross domestic product for the fiscal year starting in April, higher than an expected 3.6 percent.

Union Budget 2015

01 Mar 2015

Govt to launch APY pension scheme on June 1

The government today said Atal Pension Yojna (APY), announced in the Budget, will be launched on June 1 and will focus on all citizens in the unorganised sector entitling them to a pension of up to Rs 5,000 per month after 60 years of age.

Union Budget 2015

01 Mar 2015

Coal mine auctions leave no doubt about CAG's loss figure: PM

CAG's astronomical Rs 1.86 lakh crore loss figure in coal block allocations had raised some doubts initially, but the auction of less than 10 percent of those mines alone has garnered Rs 1.10 lakh crore, Prime Minister Narendra Modi said today.

Union Budget 2015

01 Mar 2015

Tyre industry wants correction in duty structure

Welcoming the budget announcement of Rs.14,000 crore investment in the road sector, completing 100,000 km of roads and sanctioning construction of another 100,000 km, a leading tyre manufacturer also called for correction of the duty structure for the industry.

Union Budget 2015

01 Mar 2015

''Student aid authority will rein in rogue banks''

With almost all nationalised banks not following the education loan norms, the proposal to set up an information technology (IT) -based monitoring mechanism is a welcome measure, said the convenor of the Education Loan Task Force (ELTF).

Union Budget 2015

01 Mar 2015

PSU oil cos to invest Rs 76k cr on project expansion in FY16

State-run oil firms including Oil and Natural Gas Corp (ONGC) will invest over Rs 76,565 crore on the project expansion during 2015-16, up 5 percent over the previous fiscal.

Union Budget 2015

01 Mar 2015

'Dispute settlement system must for pvt participation in rail'

Railway Minister Suresh Prabhu today said that he is open to the idea of setting up a dispute redressal mechanism to facilitate the entry of private industry into the sector.

Union Budget 2015

01 Mar 2015

Union Budget took notice of the marginalized: RS Prasad

Union Minister for Communications and Information Technology Ravi Shankar Prasad on Sunday hailed the first budget introduced in the Parliament by the NDA Government, saying that it took serious notice of equity concerns of the poor, underprivileged and marginalised.

Union Budget 2015

01 Mar 2015

Insurance sector fears being pulled into ''Cess Pool'', wants clarity on sops

Generally satisfied at the budgetary proposals of union Finance Minister Arun Jaitley for 2015-16, insurance industry officials however expressed their fears of being pulled into the "cess pool" of the Swachh Bharat Cess.

Union Budget 2015

01 Mar 2015

E-commerce transactions on 'aggregator' platforms turn costly

E-commerce transactions through websites and mobile apps based on 'aggregator model', including for cab services and online shopping, may turn expensive as those providing such services under their own brand are being brought under the service tax net.

Union Budget 2015

01 Mar 2015

High profile oil & gas sector gets no mention in Budget

Barring duty rejig for petrol and diesel, Finance Minister Arun Jaitley did not mention the high profile oil and gas sector in his Budget speech yesterday.

Union Budget 2015

01 Mar 2015

Vistara to have fleet size of 20 aircraft by 2018

Vistara, a joint venture between Tata Sons and Singapore Airlines, today said its fleet size will be increased to 20 by 2018, from five at present.

Union Budget 2015

01 Mar 2015

BAOA terms budget disappointing for aviation sector

A body of business jet operators today termed as "disappointing" the general Budget and said India cannot become the third largest aviation market by 2020, which it is aiming for, unless issues plaguing the aviation sector were addressed in an appropriate manner.

01 Mar 2015

Rating firms flay fiscal consolidation delay; rule out upgrade

Global agency Moody's said the credit profile still faces a constraint from the fiscal side, while the government has decided to focus more on growth than the fiscal consolidation.

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